British MEPs have met to learn about huge “transition payments” they will be handed when they are booted out of the European Parliament in a few months’ time.
Many are already entitled to five-figure pensions, but even those under pensionable age will also get the extra allowance after Brexit day in March, which will be worked out depending on how long they have served in Brussels.
Some could be six-figure sums for the MEPs who have been in the job the longest. The so-called “golden goodbye” payouts could cost around £5.3 million.
MEPs who have served just one term could get a maximum pre-tax payment of £44,930 while those in the job for almost 20 years could get £150,000 before tax.
Former UKIP leader Nigel Farage could be one of those to claim the top amount as he is one of the UK’s longest-serving members of the European Union’s (EU) legislative branch.
The generous bonuses have been described as a redundancy payment and are reportedly to help out the Brussels workers as they seek new jobs.
Sources in the Parliament were quick to play down accusations they were profiting from the “Brussels gravy train”.
Speaking after Tuesday night’s discussion about the payments, one told The Guardian it was just “a technical, logistical meeting… not a noses-in-troughs meeting”.
Also during the meeting, MEPs were told they must clear their plush Brussels and Strasbourg offices before the end of March and hand back any of Parliament’s equipment including laptops and iPads.
However, MEPs will still get a reduced office allowance of nearly £6,000 between April and June as they pack their bags and the EU will pay for up to 15 boxes of office equipment to be shipped back to the UK.
Great Britain and Northern Ireland have 73 MEPs in the EU Parliament, who are elected for 5-year terms. The next elections will be held in May 2019, shortly after the Brits leave.